SUPPLEMENT TO FIDELITY'S BROADLY DIVERSIFIED INTERNATIONAL EQUITY
FUNDS DECEMBER 30, 1997 PROSPECTUS
Effective July 1, 1998, the following information replaces similar
information found in The Funds at a Glance section under the heading
"International Growth & Income Fund" on page P-3:
STRATEGY: Invests mainly in equity securities of foreign
companies that pay current dividends and show potential for capital
appreciation.
The following information replaces similar information found in the
Charter section under the heading "FMR and Its Affiliates" on page
P-15:
William Bower manages International Growth & Income, which he has
managed since May 1998. Previously, he managed another Fidelity fund.
Mr. Bower joined Fidelity as an analyst in 1994, after receiving his
MBA from the University of Michigan.
Effective July 1, 1998, the following information replaces similar
information found in the Investment Principles and Risks section under
the heading "International Growth & Income Fund" on page P-16:
INTERNATIONAL GROWTH & INCOME FUND seeks capital growth and
current income by investing principally in foreign securities. FMR
normally invests at least 65% of the fund's total assets in these
securities. The fund may also invest in U.S. issuers.
The fund normally diversifies its investments across different
countries and regions. In allocating the fund's assets across
countries and regions, FMR will consider the size of the market in
each country and region relative to the size of the international
market as a whole.
FMR normally invests a majority of the fund's assets in equity
securities, with a focus on those that pay current dividends and show
potential for capital appreciation. However, the fund may buy debt
securities as well as equity securities that are not currently paying
dividends, but offer prospects for future income or capital
appreciation.
The following information replaces similar information found in the
Securities and Investment Practices section under the heading
"Illiquid and Restricted Securities" on page P-19:
RESTRICTIONS: A fund may not purchase a security if, as a result, more
than 15% of its assets would be invested in illiquid securities.
The following information replaces similar information found in the
Breakdown of Expenses section under the heading "Other Expenses" on
page P-21:
Each fund has adopted a DISTRIBUTION AND SERVICE PLAN. Each plan
recognizes that FMR may use its management fee revenues, as well as
its past profits or its resources from any other source, to pay FDC
for expenses incurred in connection with the distribution of fund
shares. FMR directly, or through FDC, may make payments to third
parties, such as banks or broker-dealers, that engage in the sale of,
or provide shareholder support services for, the fund's shares.
Currently, the Board of Trustees has authorized such payments.
